Buy PSP Projects, target price Rs 705: HDFC Securities

HDFC Securities has buy call on PSP Projects with a target price of Rs 705. The current market price of PSP Projects Ltd. is Rs 608.35. Time period given by analyst is one year when PSP Projects Ltd. price can reach defined target.

PSP Projects Ltd., incorporated in the year 2008, is a Small Cap company (having a market cap of Rs 2196.18 Crore) operating in Construction sector.

PSP Projects Ltd. key Products/Revenue Segments include Contract Revenue and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 353.66 Crore, down -36.78 % from last quarter Total Income of Rs 559.37 Crore and up 10.21 % from last year same quarter Total Income of Rs 320.89 Crore. Company reported net profit after tax of Rs 29.03 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 70.39 per cent stake in the company as of 30-Jun-2022, while FIIs owned 1.89 per cent, DIIs 4.82 per cent.